IT sector will achieve $50 bn revenue in 2007-08: NASSCOM

Despite rupee’s appreciation against dollar affecting the Indian IT sector, National Association of Software & Services Companies (NASSCOM) said on 2 August that it is confident the IT industry of the country would achieve the revenue of $50 billion (Rs2,01,100 crore) in 2007-08.
“We are quite confident that the IT software and services will achieve the target of $ 50 billion by the end of this fiscal even as the dollar depreciation has some negative impact on the industry,” NASSCOM, chairman, Lakshmi Narayanan said at IT conclave.
Last year, the industry clocked a revenue of about $40 billion with a growth rate of 30%. “In this year, the growth is expected to stay between 26-27%,” he said.
Observing that the IT industry continue to achieve handsome growth in the last quarter and that the same should continue in the next quarter, he said adding that the revenue per employee might shrink in view of the rupee appreciation against dollar.
“The IT companies are growing and they are hiring more and more people but the margin per employee may dip due to the weakening of dollar,” he said.